View more on these topics

Financial net firms feel the stockmarket pinch

IFA-loyal internet companies have failed to escape the fallout from the

recent hurly-burly stockmarket ride.

The Exchange, which floa^_ted on the market last summer at the issue price

of 200p, dipped below the 1 level to
a low of 97.5p for the first time

last week.

It is a far cry from December when the company&#39s share price briefly broke

the 400p mark on the announcement that it had entered into a
joint

venture with internet
giant Yahoo.

Interactive Investor, which has more than 8,500 regist-
ered IFAs, has

seen its share price plunge by 73 per cent
to 114p from its high of

415p reached shortly after flotation in February.

Misys dived by 63 per cent from its peak of 1,255p in January to a 52-week

low of 466p in early April but the company has now recovered to 726p.

Software company Lynx, which is buying support services provider Bankhall

in a 114m deal, is currently trading at 194p, which is 48 per
cent off

its high of 373p but more than 1 higher than
its 52-week low of 88p.

DBS&#39 price has also been in steady decline amid renewed speculation that

it may float subsidiary AssureSoft. Its share price stands at 196p after

hitting a 52-week low of 130p and a high of 263p.

Recommended

The value of old Asia

Asia caught the technology bug in a big way. The sector&#39s ascent has beenhypnotic in its speed and the level of gains. A whole investment cycle hasbeen compressed into about six months.The internet IPO market has provided the most thrills although telecomsand outsourcers, such as wafer fabricators, have also done well.With the Nasdaq now correcting, […]

The simple truth about our roles in the industry

The financial services industry is a vital one and good advisers performan undervalued public service. If you had not noticed, it is under veryfierce attack by well meaning but mis guided authority. A one-eyedorang-utan could see what is wrong – if he cared to look.Only independent advisers can give true best advice all the time. […]

Independent View

By 2015, scientists believe they will have mapped out the entire humangenome – the code for life. They have already come a long way inidentifying some of the genes responsible for serious illnesses such asHuntington&#39s Chorea.Many people are afraid humanity will know too much. But it is not theknowledge itself which is dangerous, it is […]

&#39Half of clawbacks are made in error&#39

Around half of life office commission clawbacks are made in error,according to DBS.The Huddersfield-based IFA network says some 45 per cent of clawbacksarise from life office administration blunders. It discovered the scale ofthe problem after setting up an online system which enabled IFAs to checkup on their commission daily.DBS says no life office can be […]

US loan growth is not painting a pretty picture for the US economy

Written by Mike Riddell One of the current big debates in global financial markets is whether investors should believe ‘hard’ rather than ‘soft’ data, where the usually reliable business and consumer surveys have been suggesting strengthening in global growth momentum for some time now, while the economic data that feeds through into the Gross Domestic […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment